HOUSTON, Jan. 14, 2021 /PRNewswire/ -- Oceaneering
International, Inc. (NYSE:OII) announces that its
Subsea Robotics segment won multiple contracts during
the fourth quarter of 2020, with anticipated aggregate revenue
in excess of $225 million. These contracts are with
international oil and gas operators and marine construction
companies, and range in duration from several months to
five years. The work scopes are primarily for remotely
operated vehicle (ROV) services delivered from floating drilling
rigs and multi-service, subsea intervention, and construction
vessels. Also included among the contracted scopes are ROV
tooling, survey, positioning, and autonomous underwater
vehicle (AUV) services.
The contract awards reinforce Oceaneering's standing
as a premier ROV operator for the offshore oil and
gas industry, as many of these projects are in
traditional energy developments. In
addition, Oceaneering is growing its presence
in the renewable energy sector with a
contract for its high-speed, high-current
capable Isurus ROVs to support
offshore wind projects.
Rod Larson, President and Chief
Executive Officer, stated, "We value
the confidence that our customers have in Oceaneering, as
evidenced by the volume of this order intake. The addition of
several long-term contracts reinforces
our belief that operators continue to view offshore
developments as key portfolio investments. Our offshore
robotics resources, coupled with an increasing capacity
to work remotely with less on-site intervention, enhance job
safety, reduce environmental impacts, and bring cost
efficiencies to our customers. These advances
strengthen our position as a market leader in the
provision of global ROV services."
Statements in this press release that express a belief,
expectation or intention, as well as those that are not historical
fact, are forward-looking. The forward-looking statements in
this press release include the statements concerning
Oceaneering's: anticipated aggregate revenue; growing presence in
the renewable energy sector; characterization of benefits from its
offshore robotics resources, coupled with an increasing capacity to
work remotely with less on-site intervention; and characterization
of its position as a market leader in the provision
of global ROV services. Forward-looking statements
are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995 and are based on current
information and expectations of Oceaneering that involve a
number of risks, uncertainties, and assumptions, including
risks and uncertainties related to counterparty performance under
contracts and market conditions and other economic factors
affecting Oceaneering's business. Should one or more of these
risks or uncertainties materialize, or should the assumptions
underlying the forward-looking statements prove incorrect, actual
outcomes could vary materially from those indicated. These
and other risks are more fully described in Oceaneering's latest
annual report on Form 10-K and its other periodic filings with the
Securities and Exchange Commission.
Oceaneering is a global provider of engineered services and
products, primarily to the offshore energy
industry. Through the use of its applied technology
expertise, Oceaneering also serves the defense, aerospace and
entertainment industries.
For more information on Oceaneering, please
visit www.oceaneering.com.
Contact:
Mark Peterson
Vice President, Corporate Development and Investor
Relations
Oceaneering International, Inc.
713-329-4507
investorrelations@oceaneering.com
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SOURCE Oceaneering International, Inc.